{"id":77569,"date":"2022-08-20T15:17:47","date_gmt":"2022-08-20T15:17:47","guid":{"rendered":"https:\/\/pr.asianetpakistan.com\/?p=96789"},"modified":"2022-08-20T15:17:47","modified_gmt":"2022-08-20T15:17:47","slug":"rosen-global-investor-counsel-encourages-sinovac-biotech-ltd-investors-to-secure-counsel-before-important-deadline-in-securities-class-action-against-1globe-capital-llc-and-certain-of-its-officers","status":"publish","type":"post","link":"https:\/\/lebanonnewsgazette.com\/rosen-global-investor-counsel-encourages-sinovac-biotech-ltd-investors-to-secure-counsel-before-important-deadline-in-securities-class-action-against-1globe-capital-llc-and-certain-of-its-officers\/","title":{"rendered":"ROSEN, GLOBAL INVESTOR COUNSEL, Encourages Sinovac Biotech Ltd. Investors to Secure Counsel Before Important Deadline in Securities Class Action Against 1Globe Capital LLC and Certain of its Officers \u2013 SVA"},"content":{"rendered":"
\n

NEW YORK, Aug. 20, 2022 (GLOBE NEWSWIRE) —<\/p>\n

WHY: <\/strong>Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of sellers of the stock of Sinovac Biotech Ltd. (NASDAQ: SVA) between April 11, 2016 and February 22, 2019, both dates inclusive (the \u201cClass Period\u201d) against 1Globe Capital LLC and certain of its officers. If you wish to serve as lead plaintiff, you must move the Court no later than October 17, 2022<\/strong>.<\/p>\n

SO WHAT:<\/strong> If you sold Sinovac securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.<\/p>\n

WHAT TO DO NEXT: <\/strong>To join the Sinovac class action, go to https:\/\/rosenlegal.com\/submit-form\/?case_id=8179<\/a> or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com<\/a> or cases@rosenlegal.com<\/a> for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than October 17, 2022<\/strong>. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.<\/p>\n

WHY ROSEN LAW: <\/strong>We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs\u2019 Bar. Many of the firm\u2019s attorneys have been recognized by Lawdragon and Super Lawyers.<\/p>\n

DETAILS OF THE CASE: <\/strong>According to the lawsuit, defendants\u2019 intentionally false statements and omissions concerning the true nature of 1Globe, a family investment office that is owned and controlled by defendant Jiaqiang Li, and Li\u2019s ownership of Sinovac stock caused the exchange, under the Rights Agreement of March 28, 2016 which included a \u201cpoison pill\u201d limiting the number of Sinovac shares that a shareholder could acquire, to be delayed by several years. If Li had fully disclosed his ownership of Sinovac stock, as he was required to do under Section 13(d), it would have been clear that the Rights Agreement was triggered by May 2016, at the latest. While Sinovac knew enough information starting in 2016, largely based on private correspondence, to determine that 1Globe and Li triggered the Rights Agreement, defendants hid the full extent of their ownership of Sinovac stock and their agreements in connection with the battle for control of the Company. Defendants therefore also tortiously interfered with Sinovac\u2019s contractual obligations to its shareholders under the Rights Agreement.<\/p>\n

Also according to the lawsuit, if 1Globe\u2019s and Li\u2019s actions were disclosed publicly, as they were required to be under Section 13(d), shareholders\u2019 rights would have been exercisable based on that public disclosure, and an exchange would have occurred based on that date. By misrepresenting the true nature of their ownership of Sinovac stock, defendants caused that date to be delayed almost three years, until February 22, 2019, resulting in the class losing their rights to acquire additional shares of Sinovac stock for all of their shares that they sold in the interim. While Sinovac should have implemented the Rights Agreement in 2016 based on the information available to it at the time, 1Globe and Li exacerbated the problem by violating their disclosure obligations under Section 13(d). Moreover, defendants caused the value of Sinovac stock to be artificially depressed by preventing the public from accounting for the value of defendants\u2019 stake in Sinovac and their efforts to take control of the Company.<\/p>\n

To join the Sinovac class action, go to https:\/\/rosenlegal.com\/submit-form\/?case_id=8179<\/a> or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com<\/a> or cases@rosenlegal.com<\/a> for information on the class action.<\/p>\n

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor\u2019s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.<\/p>\n

Follow us for updates on LinkedIn: https:\/\/www.linkedin.com\/company\/the-rosen-law-firm<\/a>, on Twitter: https:\/\/twitter.com\/rosen_firm<\/a> or on Facebook: https:\/\/www.facebook.com\/rosenlawfirm\/<\/a>.<\/p>\n

Attorney Advertising. Prior results do not guarantee a similar outcome.<\/p>\n

Contact Information:<\/p>\n

Laurence Rosen, Esq.
\nPhillip Kim, Esq.
\nThe Rosen Law Firm, P.A.
\n275 Madison Avenue, 40th Floor
\nNew York, NY 10016
\nTel: (212) 686-1060
\nToll Free: (866) 767-3653
\nFax: (212) 202-3827
\nlrosen@rosenlegal.com<\/a>
\npkim@rosenlegal.com<\/a>
\ncases@rosenlegal.com<\/a>
\nwww.rosenlegal.com<\/a><\/p>\n

 <\/p>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

NEW YORK, Aug. 20, 2022 (GLOBE NEWSWIRE) \u2014 WHY: Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of sellers of the stock of Sinovac Biotech Ltd. (NASDAQ: SVA) between April 11, 2016 and February 22, 2019, both dates inclusive (the \u201cClass Period\u201d) against 1Globe [\u2026]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[17,53,343],"tags":[],"yoast_head":"\nROSEN, GLOBAL INVESTOR COUNSEL, Encourages Sinovac Biotech Ltd. 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